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World Bank Ranks Nigeria 169 Out Of 189 Of Doing Business Report

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Nigeria has been ranked 169 out of 189 by the World Bank in its latest report on the ease of doing business globally.
World Bank Head of Communications in Nigeria, Mr Obadiah Tohomdet, stated this on Tuesday in Abuja.

In a statement, the report takes into consideration the ease of obtaining construction permits, getting electricity, enforcing contracts, registering property and trading across borders among other parameters.

According to the report, Nigeria had moved one place up in the ranking from 170 in 2014 to 169 in its 2015 report, while showing that the Sub-Saharan Africa economies were among the world’s top improvers of business climate.

“The region, however, ranks poorly in the areas of trading across borders and registering properties. “Mauritius ranks best in the region, with a global ranking of 32, performing particularly well in the areas of paying taxes and enforcing contracts.

“In Mauritius, it takes only 152 hours for entrepreneurs to pay taxes, compared to 261 hours globally. “Rwanda has the next best ranking in the region, with a global ranking of 62. Ten years ago, an entrepreneur in Rwanda took 370 days to transfer property. Now, it takes 32 days which is less than in Germany,” the report stated.

Also, Botswana ranked 72; South Africa 73; Seychelles 95; Kenya 108, and Uganda 122 this year.